The IFP has reviewed its membership categories and designations together with its CPD scheme requirements for members in light of the Retail Distribution Review. It is introducing some changes with effect from 1 January which members should note and act on where appropriate.

To reflect the fact that all authorised advisers must meet the FSA’s new qualifications standards by the end of 2012, the IFP is changing the definition of members qualifying to use the designation AIFP (Associate of the IFP). Currently all members fulfilling the entry requirements for CFP^CM certification are permitted to use the AIFP designation.

However, from the start of 2012 it may be used by all members who have or will have met the new FSA qualification standard by the end of 2012. Members who are permitted to use the designation under the existing rules and who do not qualify to use it under the new rules as at 1 January 2012, may continue to use the designation until the end of their membership year ending in 2012. The Fellowship, CFP^CM professional and Accredited Paraplanner designations remain unchanged.

The IFP is also moving its CPD scheme for all members from a “point based” system to an “hour based”system to align with the FSA’s minimum annual CPD requirements. From1 January 2012, Fellows and CFP^CM professionals must complete 50 hours of CPD per annum, of which a minimum of 21 hours must be structured.

Accredited Paraplanners and members qualifying to use the AIFP designation will be required to complete a minimum of 35 hours of CPD per annum, of which at least 21 must be structured. As of now, retired members not using any IFP designation and other members will not be required to do CPD.

This change will apply to membership years ending in 2012. This means that all members, except those whose membership year starts in January, will have a transitional 2011/ 2012 membership year. Members using the IFP’s online CPD system need not take any action. All existing CPD recorded as at the date of change will automatically be converted to hours. All activities recorded after the date of conversion will be recorded in hours.

Members who use another online system or paper records need not convert points to hours for any CPD already recorded before 1 January2012. Members may then choose to record CPD from 1 January 2012 until the end of their transitional membership year in either points or hours, whichever is easier, provided it is clear which is being used.

For further information about any of these changes, please email the IFP’s Education Director, Sue Leech at This email address is being protected from spambots. You need JavaScript enabled to view it.